Barclays, tallying 74 branches across France, will continue to operate its corporate and investment banking operations in the country, AnaCap specified in a statement.

Through this new acquisition, AnaCap would strengthen its banking platform that already includes Aldermore in the UK, MeDirect in Belgium, Mediterranean Bank in Malta, Equa bank in Czech Republic and FM Bank in Poland.

Nassim Cherchali, director of AnaCap, commented: “This is an opportunity to acquire an attractive and established banking operation built on a team of highly talented individuals with exceptional relationships with customers across France.

“We have already established an unrivaled track record within the private equity industry for acquiring and growing banking platforms across the continent and, if concluded, we look forward to building this business further in a market with significant potential for innovation and expansion.”

AnaCap have funds with over €3bn of assets under management across private equity and credit opportunities strategies as well as co-investments.

Adrien Paredes-Vanheule is French-Speaking Europe Correspondent for InvestmentEurope, covering France, Belgium, Geneva and Monaco. Prior to joining InvestmentEurope, he spent almost five years writing for various publications in Monaco, primarily as a criminal and financial court reporter. Before that, he worked for newspapers and radio stations in France, in particular in Lyon.